Light House

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The first of the 'CBD Four' officially marked its beginning of construction yesterday as Probuild now controls the site that will become Victoria One, a 241 metre residential tower spanning 75 levels. Joining Victoria One shortly will be three additional residential towers which will complete the 'CBD Four' as Urban.com.au has dubbed them.

All four developments are the swift work of Asian-backed local property developers and lead a new wave of high-rise residential towers sweeping through inner Melbourne. Incidentally the four are all the handy work of local design firm Elenberg Fraser, reflecting the dominant position they hold within the market.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/onetower_architecture_gallery_3.jpg" rel="gallery-all" title="Staking its place. image courtesy victoria-one.com.au"><img alt="" class="image-article-full-width-580px" height="357" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/onetower_architecture_gallery_3.jpg?itok=YQKA5ty2" title="Staking its place. image courtesy victoria-one.com.au" width="580"></a>

<figcaption>Staking its place. image courtesy victoria-one.com.au</figcaption></figure>Due for completion late 2017, Victoria One is Golden Age Group’s largest project to date and is slated to be the tallest residential tower within Melbourne's CBD upon completion. 95% of the tower's available 629 apartments have been sold within the project which is valued at $350 million.

Located on the corner of Elizabeth and Franklin Streets in Melbourne, Victoria One will be highly visible upon completion owing to its distinctive green facade and vertical metallic fins which will catch and cast sunlight at different points of the day. Designed to mimic Victoria’s famous landscapes, "The fluid façade appears soft and yielding like the local parks, oceans and rivers. Green glazing with gold highlights gives a botanic feel" as described on the Elenberg Fraser website.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2712.jpg" rel="gallery-all" title="The now closed display suite living on borrowed time"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/img_2712.jpg?itok=hhf1evGz" title="The now closed display suite living on borrowed time" width="580"></a>

<figcaption>The now closed display suite living on borrowed time</figcaption></figure><h2>What they say</h2>

<blockquote>
The market is buoyant, but I believe in still being cautious and building apartments that are aspirational and of high quality – these types of projects will find buyers in any market.

We are pleased to be working with Probuild, a company that shares our commitment to quality and speed. They are a group that has emerged as a leader in high density residential construction in Melbourne and will bring strong local expertise to this project.
<cite>Jeff Xu, Golden Age Group founder</cite>
</blockquote>

<blockquote>
You don’t get an opportunity to build the tallest building in a city every day. To have the opportunity to deliver a building that will change Melbourne’s skyline is an exciting prospect.

There is definitely incredible growth in high-rise apartment living that we haven’t seen in our 27 plus years in Melbourne. It signals a change in people’s desire to live closer to the city. People are pushing through that psychological barrier that says we need a home and land. Victoria One represents this change in thinking as well as a change in dynamic as younger generations embrace city living over the traditional great Australian dream of a quarter acre block.
<cite>Dean Lockhart, Victorian managing director Probuild</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image18.jpg" rel="gallery-all" title="An Elenberg Fraser role call"><img alt="" class="image-article-full-width-580px" height="227" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image18.jpg?itok=VXusQzcW" title="An Elenberg Fraser role call" width="580"></a>

<figcaption>An Elenberg Fraser role call</figcaption></figure>Some readers will know that one of the CBD Four, Tower Melbourne, began demolition in excess of a year ago only for CEL Australia to be mired down in legal wrangling with a fellow Singaporean developer controlling the adjoining site. With that matter now settled Tower Melbourne is expected to begin demolition once more shortly.

Of the others ICD Property's EQ. Tower is 100% sold while a handful of apartments remain in Hengyi's Light House Melbourne, directly opposite Victoria One. Demolition on the latter two is also expected to start prior to years end allowing for all four to rise simultaneously over the course of the next two to three years, while injecting in the vicinity of 2420 apartments into Melbourne's CBD upon completion.

Come 2017, the CBD will look immensely different and Victoria One will be leading the charge.
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silvermb

Victoria One - First of the 'CBD four' begins construction

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It is always a worthwhile exercise in gleaning the opinions of others, more so when the person in question represents a growing wave of non-resident apartment buyers seeking to claim a slice of the Melbourne residential market.

Urban.com.au had the opportunity to pose a number of questions to Light House purchaser and Melbourne semi-resident, Raymond Wei.

In this vox pop of sorts we began by asking the question perhaps most pertinent: would you describe yourself as an investor or an owner-occupier?

RW: I view myself as an owner, I won't be using my apartment year-round but when I'm in Melbourne it is my residence.

MB: Melbourne's skyline is always changing with new projects appearing; were views a consideration when you purchased or merely a benefit?

RW: Everyone would choose sunlight and views if they had the choice. I know Melbourne is changing quickly so views will change but I appreciate direct sunlight and not living in the shadow all the time. Light House will give me both.

MB: What attracted to you the development, in terms of location and design?

RW: I know what Melbourne can be like with its weather, so I was impressed with the winter garden designed into the apartment; it creates a really comfortable residential environment and gives me another usable space when I want it.

The location is great, I have the market and shops a few minutes away.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lhintimage.jpg" rel="gallery-all" title="Light House Melbourne's dining room"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/lhintimage.jpg?itok=vErr877q" title="Light House Melbourne's dining room" width="580"></a>

<figcaption>Light House Melbourne's dining room</figcaption></figure>MB: How important was the interior design of the living spaces when considering your purchase?

RW: Very important as I will end up living in the apartment. Some people don't care so much, as they are just investors looking to buy an investment property. With Light House I looked at the quality of the living spaces plus I was impressed with the amount of natural light available.

MB: Would you use the communal facilities at Light House (e.g. the sanctuary spa and the entertainment lounge)?

RW: Yes, I will use all of them whilst living in Melbourne. Sometimes you want to get out of your house but not necessarily go outside - maybe the weather's not so good or so on - and the facilities allow me break my routine. I get to relax, work or socialise in quality spaces.

MB: Is a car park important or just an afterthought when living in the CBD?

RW: I require a car when in Melbourne, so absolutely parking becomes extremely important. It takes away all the headache of trying to find street parking in a city where they're not easy to find. It's certainly cheaper than getting charged hefty fees at public car park.

MB: As for the world's most livable city, what do you find attractive about living in Melbourne?

RW: Living in the city brings a lot of convenience. I'm within walking distance to major shopping centres, Victoria Market and many other attractions that local residents take as part of everyday life.

I really like the culturally diversified lifestyle, events, mixed cuisines and restaurants plus the varied festivals... Melbourne has a lot to offer in a concentrated area.
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The rhyme and reason for buying in Melbourne 

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I like many others was surprised and impressed when Hengyi Australia announced recently that it had reached sales of 75% for its Light House project on Elizabeth Street. I had also incorrectly made the assumption that the majority of sales to date were to offshore investors, and that Hengyi Australia was merely another of the throng of Asian property developers keen to absorb robust demand for Melbourne apartments.

Following a recent chat with Hengyi's Head of Marketing &amp; Business Development, Stephen Speer, an new impression was born of a Chinese-backed, yet distinctly Melbourne-based developer intent on achieving great things within the local context.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/IMG_5957.jpg" rel="gallery-all" title="The William nearing construction completion"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/IMG_5957.jpg?itok=GqlXcUW4" title="The William nearing construction completion" width="580"></a>
<figcaption>The William nearing construction completion</figcaption></figure>Hengyi's initial Bruce Henderson-designed project at 199 William Street is well into construction as seen above, with remaining apartments on offer for sale exclusively within the local market. The rebirthed office complex which will include a Wyndham Hotel upon completion is scheduled to open its doors within months, and Urban.com.au may just be first through the door to have a look around.

Light House is the flagship project for Hengyi Australia. The size, eye-catching design and methodology behind Light House at 450 Elizabeth Street have ensured the projects success and ingratiated Hengyi to many locally.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lhd02.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="355" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/lhd02.jpg?itok=_d7QKptv" width="580"></a>
<figcaption> </figcaption></figure>Once the initial partnership was forged with co-developer Sixth Grange, the numbers for Light House were adjusted resulting in a taller proposal which gained approval from Planning Minister Matthew Guy. Thereafter a local retail sales campaign was launched in unison with five investor roadshows through Southeast Asia with Malaysia proving to be the highest yielding stop.

Overall sales for the 607 apartments within Light House now stand beyond 80%, and of those roughly 60% have been to Australian buyers. Sales have been strong over all available layouts with a proportionately healthy percentage of apartments carrying three bedrooms, a result of Hengyi adjusting to local market desires.

Rather than utilising parent company Shandong HYI's resources, local institutions have financed the construction of Light House with demolition slated to begin during September. Piling and associated works will ensue over some months, resulting in the first signs of the tower's skyward movement during 2015. Construction is due for completion early 2017.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lhd01.jpg" rel="gallery-all" title="450 Elizabeth Street display suite"><img alt="" class="image-article-full-width-580px" height="368" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/lhd01.jpg?itok=6TJNRFkc" title="450 Elizabeth Street display suite" width="580"></a>
<figcaption>450 Elizabeth Street display suite</figcaption></figure>Asked what is next on the back of Light House's success, Stephen Speer suggests Australia is Hengyi's oyster. Given the right project specific dynamics or joint-venture partner, the firm would develop anywhere based upon the opportunity presented. Melbourne, Sydney, Brisbane, Adelaide and Darwin were nominated as potential cities, depending upon the opportunities that arise.

Hengyi Australia have hit the ground running, one can only wonder what the firm has in store next?
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Hengyi Australia makes itself at home

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When it rains, it pours! No not a reference to the dismal weather at the moment, but the continuing surge in new apartment project releases Melbourne is experiencing.

Sure to be one of 2014's marquee releases, Light House Melbourne is the assigned moniker to one of this city's more unique apartment projects. 450 Elizabeth Street first gained approval during 2012 on behalf of site owner Sixth Grange Pty Ltd for a 62 level, 197 metre tower carrying 541 apartments.

Subsequently project partner Hengyi Australia was added and during February 2014 consent was received to extend the tower beyond the approved scheme seen below. Melbourne City Council now lists the project at 67 levels and 218 metres, although Colliers via their statement below have the tower at 69 levels of undulating edifice.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/11038_450_ElizabethStreet_Apartments_01.jpg" rel="gallery-all" title="Image © Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="511" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/11038_450_ElizabethStreet_Apartments_01.jpg?itok=DJxOGzH1" title="Image © Elenberg Fraser" width="580"></a>

<figcaption>Image © Elenberg Fraser</figcaption></figure><blockquote>
Apartment living redefined by a kaleidoscope of possibility, with its shimmering, striking exterior Light House is certain to become a hero of the Melbourne skyline. This unique building has a sculptural presence, rising an impressive sixty-nine stories. Within each of these exterior facets is an exceptional bay window, increasing the light and space in every residential apartment to witness the lively streetscapes below and enjoy the sense of community in this bustling part of the city.
<cite>Colliers International (Selling Agent)</cite>
</blockquote>

<blockquote>
Appearing to turn on its trajectory, the building has no corners. How do you dissolve the corners of a skyscraper when that is where all sheer forces are normally resolved? Well, we discovered the answer lies in traditional masonry techniques for turning corners using bricks.

This three-dimensional kaleidoscope not only twists and undulates on its axis but its façade is a moving object. The effect of constant motion is amplified by the multi-chromic directional paint system applied to the surface, which reflects and draws the building up into the sky. You may have seen this paint effect on cars before, but never on a building!
<cite>Elenberg Fraser (Architect)</cite>
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<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ef450eliz.jpg" rel="gallery-all" title="A distinctive facade. Image © Elenberg Fraser"><img alt="" class="image-article-full-width-580px" height="374" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/ef450eliz.jpg?itok=eceF2KK9" title="A distinctive facade. Image © Elenberg Fraser" width="580"></a>

<figcaption>A distinctive facade. Image © Elenberg Fraser</figcaption></figure><blockquote>
This supermodel of a building also needed to battle the slenderness ratio – the rule that governs how tall and thin buildings can go. It overcomes this constraint by virtually becoming a vertical cantilever with a series of outrigger beams to prevent it from overturning, and to stop it rotating along with the façade system. The series of rotational units are a series of bay windows for the apartments, which pick out different vistas of city as the façade crinkles.
<cite>Elenberg Fraser (Architect)</cite>
</blockquote>

Joining Light House Melbourne in the immediate vicinity are the soon to be released <a href="http://empiremelbourne.com.au/" target="_blank">Empire Melbourne</a>, <a href="http://www.victoriaoneapartments.com.au/" target="_blank">Victoria One</a> and the at sales <a href="http://www.eqtower.com/#" target="_blank">Eq. Tower</a>.

Registration of interest for Light House Melbourne are open via the project website http://www.lighthousemelbourne.com.au/
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Light my way - 450 Elizabeth Street

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It is that time again when Urban.com.au takes a look into the vast depths of our <a href="https://www.urban.com.au/developments">project database</a> and this month we select the Top 5 from the projects <a href="https://www.urban.com.au/developments/approved">currently approved</a>.

<h2>5. The Altus, <a href="https://www.urban.com.au/new-apartments/238-harbour-esplanade-docklands">238 Harbour Esplanade, Docklands</a>
</h2>

Why do we like this? Besides the fact that if built it will be one of the tallest towers in Docklands and most certainly the tallest in Digital Harbour, the design will complement the curves and glass of <a href="https://www.urban.com.au/developers/mab-corporation">MAB Corp's</a> <a href="https://www.urban.com.au/buildings/the-quays-231-harbour-esplanade-docklands">The Quays</a> to the west located in NewQuay and also provide a landmark structure for the Footscray Road gateway into Docklands. Furthermore, the Altus will include a 4.5 star Sheraton Four Points hotel when completed.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Altus.jpg" rel="gallery-all" title="The Altus © BellaCharlton"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/Altus.jpg?itok=A2O1v-OU" title="The Altus © BellaCharlton" typeof="Image"></a>

<h2>4. Rawhouse, <a href="https://www.urban.com.au/projects/97-99-rose-street-fitzroy">97-99 Rose Street, Fitzroy</a>
</h2>

Why do we like this? From the team that have brought us <a href="https://www.urban.com.au/new-apartments/mesh-apartments-8-florence-street-brunswick">The Commons</a> comes <a href="https://www.urban.com.au/news/two-thumbs-up">Rawhouse</a> which if built, will incorporate similar architectural and sustainability features as its predecessor. Even though it is a relatively small development only housing a total of 12 apartments, Rawhouse also features an open stair well, a concrete and timber facade which will be recycled where possible and will have no car parking due to its close proximity to amenity and services. Also being located in <a href="https://www.urban.com.au/new-apartments/fitzroy-vic">Fitzroy</a> just behind the Veggie Bar, the concept of this building will certainly appeal to those that want to live in this area and with only 12 of these babies available, they will surely be sold in a flash.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/raw.jpg" rel="gallery-all" title="Rawhouse © Breathe Architecture"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/raw.jpg?itok=6KH3lO73" title="Rawhouse © Breathe Architecture" typeof="Image"></a>

<h2>3. 9-11 Caravel Lane, Caroline Springs</h2>

Why do we like this? We like this because it is a multi-storey island in a sea of suburbia! Along with <a href="https://www.urban.com.au/new-apartments/135-the-esplanade-caroline-springs">Cascada</a> situated just down the road, these apartments set a good example of apartment living in a non traditional setting. If we also consider that the <a href="https://www.urban.com.au/new-apartments/135-the-esplanade-caroline-springs">Regional Rail Link</a> is being constructed and will pass nearby to Caroline Springs, the public transport service starved outer suburbs may see the light yet.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/MA-Caravel-Ln-01.jpg" rel="gallery-all" title="9-11 Caravel Lane © Metaxas Architects"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/MA-Caravel-Ln-01.jpg?itok=qSLGMNtC" title="9-11 Caravel Lane © Metaxas Architects" typeof="Image"></a>

<h2>2. <a href="https://www.urban.com.au/buildings/marina-tower-6-pearl-river-road-docklands">6-22 Pearl River Road, NewQuay</a>
</h2>

Why do we like this? This building designed by <a href="https://www.urban.com.au/architects/dko-architecture">dko Architecture</a> has the potential to become an iconic building for NewQuay, Docklands and Melbourne. The leaning, protruding structure provides a striking silhouette and would also provide fantastic waterfront views for those lucky enough to live in the building. In July 2013, MAB Corp sold off the site to the prominent Singaporean developer <a href="https://www.urban.com.au/developers/hiap-hoe">Hiap Hoe</a> which has hit the ground running in their first foray into the Australian property realm reportedly wanting to start construction immediately! Great enthusiasm!

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/DKO.jpg" rel="gallery-all" title="6-22 Pearl River Road, NewQuay © dko Architecture"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/DKO.jpg?itok=gVJr2MQ4" title="6-22 Pearl River Road, NewQuay © dko Architecture" typeof="Image"></a>

<h2>1. <a href="https://www.urban.com.au/buildings/light-house-450-elizabeth-street-melbourne">450 Elizabeth Street, Melbourne</a>
</h2>

Why do we like this? An <a href="https://www.urban.com.au/architects/elenberg-fraser">Elenberg Fraser</a> cracker! This 62 level tower is just shy of the 200 metre mark features a fantastic folding facade that creates a visually striking wave effect from the lower levels and all the way to the top. Hopefully we will see this tower move through to registrations and sales in the near future!

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/11038_450_Elizabeth_Street_Elenberg%20fraser.jpg" rel="gallery-all" title="450 Elizabeth Street, Melbourne © Elenberg Fraser"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/11038_450_Elizabeth_Street_Elenberg%20fraser.jpg?itok=1HI0mNya" title="450 Elizabeth Street, Melbourne © Elenberg Fraser" typeof="Image"></a>

Do you agree with our list? Tell us what you think.
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